(Reuters) -Cloud-based software firm Salesforce Inc and activist investor Elliott Management Corp may soon reach a deal, according to a source familiar with the matter.
Elliott recently made a multi-million dollar investment in Salesforce and planned to nominate several director candidates at the company, Reuters reported in January.
Salesforce did not immediately respond to a Reuters request for comment. Shares of the stock were down 2.4% in trading on Friday; the stock has lost more than 20% of its value in the last 52 weeks, trailing the S&P 500.
The news was first reported by CNBC.
Earlier this year, Salesforce, which is valued at $168 billion, said it planned to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce.
Late last month, the company appointed the chief executive of hedge fund ValueAct Capital, Mason Morfit, Mastercard finance chief Sachin Mehra and former chief executive of Carnival Corp Arnold Donald to its board.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Shinjini Ganguli)
